Remarks

These are all 2-bedroom, 1 bath units in this brick 1983 recently remodeled building. There are currently 2 vacant units that are now ready to be leased. Current NOI on the 14 occupied units is $105,324.00. Filling the 2 vacant units takes NOI to $131,892.00. Average rents are currently $814/mo. Great opportunity to raise rents. Apartment is 6 minutes from Mount Union College. Turnkey units, recommendation would be to start by raising rents to $925 per door which is a small increase but would raise your cap rate to 8.5% with long term opportunity to drive much higher cash flows. Proximity to campus provides easy access to rental base.

Details

MLS#: 5127417
Price: $1,600,000

Style: CommercialSale
Baths Half: 0
Sq Ft: 0
Year Built: 1983

County: Stark
Subdivision: Alliance
Tax Fee: 7256